After providing a definition of cronyism, Asness offered an explanation for the growth of cronyism today, which is rooted in the increasing size and scope of government. Only by limiting government’s growth can we limit opportunities for cronyism, Asness argued.

Raleigh Sadler says he’s just a Florida boy who wears cardigans — he has no business kicking down the door of a brothel. “It’s pretty much scientifically proven that guys who wear cardigans don’t do that kind of thing,” he joked.

Classical music flourished in the fertile commercial culture of 19th century Germany and Austria without the meddling of the National Endowment for the Arts. Today, technological developments and growing wealth makes the case for government-subsidized culture all the more scant.